No, I don't think that Hooters would have made it very far in the United States if it was called American Owl Restaurant. However, I also would not care if all Hooters restaurants closed. Any restaurant that makes money based on the objectification of women needs to be shut down, no matter what it is called.
No, American Owl Restaurant would not have been as successful in America, because people wouldn't have known what the restaurant stood for. Lots of companies in other countries go by different names. In Australia, Burger King is called Hungry Jacks. Different names appeal to different cultures and American Owl Restaurant wouldn't have meant anything to Americans.
The American Owl restaurant makes no sense. It is called hooters, because at the time that the restraunt first opened, "hooters" was popular slang for a woman's breasts. Amercans love that kind of double entendre and there is no way that the restaurant would have been successful without poking fun at itself a little.
No, Hooters would not have succeeded if it was called the "American Owl Restaurant." It would not translate as well in the U.S. with a name like that. Hooters is a euphemism that most people understand, and the American Owl Restaurant sounds tame, maybe even too family friendly in this case.